Gryphon Digital Mining shares surged 283% in Monday morning trading after announcing its all-stock merger with American Bitcoin, a bitcoin mining firm backed by U.S. President Donald Trump's two eldest sons.

The combined company is expected to list on the Nasdaq under the ticker symbol "ABTC." Upon completion, the newly merged entity will retain the American Bitcoin name, with leadership and governance continuing under American Bitcoin's management and board.

"Taking American Bitcoin public is a critical step toward scaling the business at the pace and magnitude we envision," said Asher Genoot, Board Member of American Bitcoin and CEO of Hut 8. "Time-to-market was a critical factor, and this transaction enables an efficient path to public markets by combining with an entity that is structurally aligned with American Bitcoin's mining-focused launch strategy."

Shares of Kindly MD, Inc. skyrocketed 363% on Monday after the healthcare company announced a merger with Nakamoto Holdings, a bitcoin investment company founded by David Bailey, a key cryptocurrency advisor to President Donald Trump.

The newly formed company has secured $200 million in convertible debt and $510 million in fresh capital through a private investment in public equity (PIPE) deal, offering shares at $1.12 each.

The raise drew support from more than 200 investors, including Actai Ventures, Arrington Capital, BSQ Capital Partners, Kingsway, Van Eck, and Yorkville Advisors.